Economists Say Climate Change Is Bad For The Economy

The economy is in trouble, but we already knew that. So what’s new? Well, 144 top economists were surveyed by the New York University School of Law and most agree climate change is a threat to the United States and the global economy.

84% of those surveyed agreed the effects of greenhouse gases on the environment present a “clear and present danger” to those economies.

Most also agreed the sectors hardest hit would be the agriculture, followed by fishing and forestry.

This may sound harmless but if agriculture takes a serious hit we will have problems feeding ourselves… I mean even more than the problems we are currently having feeding ourselves.

Economists’ responses to the statement: “The environmental effects of greenhouse-gas emissions, as described by leading scientific experts, create significant risks to important sectors of the United States and global economy.”

Senators continue to debate whether or not climate change is a threat. Sadly is seems we are still in the Bush era of fact equals opinion, particularly when it comes to science.

So what about a solution? The economists surveyed also agreed with a market-based approach to limiting carbon emissions, supporting the auctioning of emissions allowances, while far fewer believed the government should give them away. Congress is leaning towards giving them away even though auctioning them off is a better economic choice. Does anybody listen to experts anymore?

Big surprise there, economists seeing a market-based solution, but the market can play a large role in cutting down greenhouse glass emissions.

I think there needs to be multiple solutions implemented now, but I wonder if these economists are willing to say there should be a market based solution if they would get behind a Van Jones type environmental/green jobs program as being part of that solution. Couldn’t hurt right?